Catalog
See full images - free registration
Continue with Google - no registration!
or register with email
Why register? Just to keep bots out of our catalog. Your email stays private - we will never share it or send you anything uninvited. We guarantee you that!
500 Escudos Nationalization of Mining
| Issuer | Banco Central de Chile |
|---|---|
| Year | 1971-1973 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Escudo (1960-1975) |
| Composition | Log in to see details |
| Size | Log in to see details |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANCO CENTRAL DE CHILE QUINIENTOS ESCUDOS 1971 AÑO DE LA NACIONALIZACION DEL COBRE, SALITRE Y HIERRO CASA DE MONEDA DE CHILE (Translation: Central Bank of Chile Five Hundred Escudos 1971 - Year of the Nationalization of Copper, Saltpeter and Iron Chile Mint) |
| Reverse description | Log in to see details |
| Reverse lettering | Log in to see details |
| Signature(s) | Log in to see details |
| Protection type | Watermark |
| Protection description | Log in to see details |
| Variants | Log in to see details |
| Comments |
This note marks one of the more consequential decisions in twentieth-century Latin American monetary history. When Salvador Allende's government nationalized the large copper mines in July 1971 — a measure that passed the Chilean congress unanimously — the Banco Central commemorated the event through currency, an unusual choice that made the 500 Escudos a piece of political as much as economic policy.
Printed domestically by the Casa de Moneda de Chile, the series ran through a period of accelerating inflation that would eventually render the entire Escudo system obsolete. By 1975, the military government that ousted Allende had replaced the Escudo with the new Peso at a rate of 1,000 to one.